Within his freshly published personal account, titled Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis as the treasury head primarily due to the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed his own motives which involved promoting his books and experimenting with his economic models using Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote how the negotiations to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of his theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also the severe austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action which plunged the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also wrote how his aggressive style made him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
